Tokyo stocks tumbles as Japanese long-term bond yields hit highest since 1999

Tokyo's stock market opened lower on Monday, with major indexes retreating sharply.

Japan's benchmark 225-issue Nikkei Stock Average at one point dropped more than 700 points, reflecting investor caution amid rising bond yields.

By the close of trading, the Nikkei index had fallen by 352.60 points, finishing at 53,583.57 points, while the broader Topix index decreased by 2.28 points to close at 3656.40 points.

In the bond market, Japanese long-term government bonds continued to face heavy selling, pushing yields higher. The yield on newly issued 10-year Japanese government bonds rose to 2.240 percent, marking the highest level since February 1999.

Tokyo stocks tumbles as Japanese long-term bond yields hit highest since 1999

China on Friday sent two new test satellites into space from the Xichang Satellite Launch Center in the southwestern province of Sichuan.

The satellites, Shiyan-30 03 and 04, were launched at 06:33 (Beijing Time) aboard a Long March-2D carrier rocket and entered the preset orbit successfully.

The satellites will be mainly used for experimental verification of Earth observation technologies.

The launch marked the 632nd flight mission of the Long March series carrier rockets.

China launches two new test satellites